Why do we have to close each month? (edited)

Wedo778

A couple months into using Simplifi now, Mint refugee.

I know that businesses have differing requirements and have a high level understanding of why closing out a month can be a thing there. But using Simplifi for my personal finances, what is the benefit of forced to do it and is there some way to turn it off that I havent noticed?

Literally all I do each month is click on each category and say, yep release those funds. Its not like I can do anything else. But every month I have to go click it. Why do I have to take these extra steps every month?

UrsulaA

There is more information on the process here: https://help.simplifimoney.com/en/articles/5735189-how-to-resolve-outstanding-items-in-the-spending-plan

The closing out is more helpful to check if the user's bills and subscriptions are paid as planned.

Check this thread out too

https://community.simplifimoney.com/discussion/comment/6964#Comment_6964

Wedo778

Yea I already have recurring bills set up for any bills and subscriptions. So I already know if they have been paid. This seems redundant, and just extra clicks I have to make every month that I would rather not have to do if it isn't doing anything for me.

UrsulaA

I like closing out the month and seeing that my net cash flow for the month matches my spending plan. Also, having a positive available to spend number at the end of the month feels good.

I wish I could release all planned spending unused funds at once without clicking each category. Also, I wonder if this feature could be optional for users that do not see value on it. @Coach Natalie @Coach Kristina - any comments?

UrsulaA

I answered the questions posed from what I perceive Simplifi's intent is and my own view.

If you do not like how the closing of the month works, you can post a feature request here to change it and see if users are interested.

Wedo778

You've provided me with a link to how it functionally works. I was already aware of that and it was not my question.

I want to know what value it holds. Your answers are all things I can already see without physically clicking on "release the funds". I am still looking for an answer to what value I get out of clicking on that every month.

ajbopp

For me, closing out each month is a useful check on the validity of my budget. Constantly releasing funds in some category or other is a clue that I haven't budgeted correctly for it, and helps me to understand how I should modify the budget (or my spending habits) to more accurately reflect reality.

Wedo778

You're acting like I've given you some sort of personal insult by saying my question is still unanswered.

I can already see how my planned spending compares to my actual spending every day of the month. Including the final day, and including after the month is over. They took the time to implement a screen that forces the user to click on a "release my funds" button. I want to know why they bothered to take the time to write that code. Its ok if you don't know that, you're a user like me. But the question isn't answered just because you responded to me and asked the coaches to respond. Its answered when it has an answer.

SRC54

Hi,

Until you click the "Release My Funds" button, they are still budgeted and the amount leftover is off. Once you release those funds, it updates the "Amount Left Over" at the end of the month, which in my case is how much money I saved. This is of value to me since I don't use a savings goal and just try to save as much money as I can.

I guess it could be automatic, but as the others have said, this seems to force you to see how close you came to your goal. Again in my case, I am always adjusting during the month as I will necessarily spend more at certain times of the year than others.

The more categories from which I have to release funds, the more I feel like I won the month!

UrsulaA

https://community.simplifimoney.com/discussion/comment/24600#Comment_24600

Yes @SRC54, agreed. In Mint, the amount left over at month end in the budgeting area never matched the net income for the month because there was no resolve outstanding items feature. Instead, you got the view of actual versus budgeted/projected.

I also do not use savings goals and I try to save as much money as I can. Going through the resolving outstanding items exercise helps me be deliberate about reconciling cash left (or spent) at month end in the spending plan versus the net income report.

Wedo778

https://community.simplifimoney.com/discussion/comment/24600#Comment_24600

Yea I dont use savings goals either, any goals I have revolve around my retirement accounts and they dont let you set goals on those. But I'm in Simplifi every day, I can see the difference between my income and spending any time I want. There is even a report for it. I don't need a system forcing me to look at things. I'm a big boy now. I buy my own pants and everything 😂

Coach Natalie

@Wedo778, thanks for posting!

If you're looking for a technical answer as to why the developers implemented the "resolve outstanding items" feature (or even the "release available funds" feature for Planned Spending specifically), I'm afraid that's not something we'll be able to provide here. Our support article about resolving outstanding items states: "When the month ends, it is important to close out your Spending Plan to ensure all your expected Income, Bills, Subscriptions, and Planned Spending items are accounted for. That way, you can see how you did versus what you had planned!", which indicates the purpose behind the feature.

If you'd like to see a change or enhancement made to a specific area of Quicken Simplifi, the best way to go about requesting it is by creating an Idea post so other users can vote on it and our product team can review it. Our FAQ here has more details on creating Idea posts in the Community:

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

As for posting to the Community, this is a public forum where you can receive user-to-user help and feedback.

https://help.simplifimoney.com/en/articles/5728786-introduction-to-the-community

It sounds like the other users who have commented on this thread are giving their own opinions regarding the feature and are trying to help out. If you're looking for official tech support, you'd want to wait for a Coach to respond, or you can also contact our Support Team directly to engage in a private support experience.

https://help.simplifimoney.com/en/articles/5077917-how-to-contact-support

Please be sure to also view our Community Guidelines here:

https://community.simplifimoney.com/discussion/5/simplifi-community-guidelines

I hope this helps!

-Coach Natalie

Wedo778

@Coach Natalie I'm looking less for a technical answer, and more for a business reason. There had to have been some sort of perceived value in making people click 20 times at the end of every month. I wanted to understand what that possible value could have been before running off and submitting a "this area is dumb, make it more like Mint" enhancement request. I assumed there were ways it was beneficial that I couldn't figure out.

But you're telling me the value is "you can see how you did versus what you had planned". I can literally see that every second of every day, whenever I want just by looking at the spending plan area. The act of clicking "release funds" on the first of the month because I spent $298.37 on groceries instead of exactly $300.00 to the penny isn't helping me see anything new.

And I am aware this is a public forum. I am not looking for a private support experience. I assumed I wouldn't be the only person to "not get it". I just don't need someone repeatedly marking my question as answered when it isn't. and trying to argue with me about whether I should like their answer.

ajbopp

Not liking the answer does not mean the question wasn't answered.

If the only answer you will accept is the one you want to hear, that's on you.

Wedo778

How can I possibly only accept an answer that I want to hear when I don't even know what the answer is? You're rude insults don't even make any sense. Please take your toxic attitude elsewhere and stop commenting on my posts from now on. I hope to never hear from you again.